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Chapter 7 Definitions

Chapter 7 Definitions

Terms

undefined, object
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Government Powers (4)
Police powers, eminent domain, taxation, escheat
Riparian Rights
Owner's rights in land that borders on or includes a stream, river or lake. Rights include access to and use of the water
Reversion/Remainder Interests
Future ownership rights after life estate ends; remainder interest passes to a third party; reversionary interest reverts to the original owner or heirs
Lien
Monetary interest in real property; example are mortgage liens, mechanics liens
Defeasible Fee
Fee simple estate in which the holder may lose title if a certain event occurs or does not occur: "So long as ....., " or "no alcohol sales," etc.
Encumbrance Claim
Charge or liability that attaches to real estate liens, restrictions, easements, encroachments
Fee Simple Absolute
Maximum possible estate or right of ownership of real property, continuing forever
Legal Life Estates (3)
Curtesy (husband's rights), dower (wife's interest, homestead (protect family home from certain creditors)
Appurtenant Easement
Easement that is attached to and travels with the ownership of one parcel allowing the owner the use of the use of the neighbor's land
Leasehold Estate
Tenant's right to occupy real estate during the term of a lease, generally considered to be a personal property interest
Easement by Prescription
Easement claimant has used another's land for a certain period of time (10 - 20 years) openly, continuously and without the owner's approval
Easement in Gross
ndividual interest in someone else's land; no dominant tenement. Commercial may be assigned, conveyed or inherited; examples: utility lines, sewer, water

Deck Info

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